AD Ports-owned Noatum Maritime has acquired a majority stake in Safina B.V., a maritime agency and cargo service provider in Egypt and the Middle East, in a deal expected to close in the third quarter of 2024.
The acquisition of Safina is another step for Noatum Maritime in its ongoing expansion across the Mediterranean, including the establishment of new offices in Türkiye.
AD Ports has also made moves to enhance its presence in the Egyptian market, signing concession agreements to manage and operate cruise and Ro-Ro terminals at Safaga, Hurghada, Sharm El Sheikh and Sokhna ports.
Safina offers agency services and maritime logistics to shippers serving the metals, minerals, and fertilisers sectors. With Noatum’s global network, Safina will be in a position to access new customers from more diverse industries and strengthen its local presence.
Safina is located across six strategic office locations, including its headquarters in Cairo which allows it to provide agency services across 15 Egyptian ports, offering liner and tramp agency services as well as transit services through the Suez Canal. Safina also has a sizable market share in both Mediterranean and Red Sea Egyptian Ports, inclusive of Sokhna, Adabiya, Damietta, Port Said and Alexandria.
Terry Gidlow, CEO of Noatum Maritime, commented, “The move enhances our presence in key markets and enables us to strengthen our service offering across Egypt, the Middle East and North Africa, providing for greater flexibility and opportunities to meet our customers’ needs. By leveraging Safina’s four decades of experience and local expertise, we aim to further optimise our operations, strengthen customer relationships, and drive sustainable growth.”
Safina will be rebranded as Noatum Maritime Egypt in due course and be integrated into the Noatum Maritime ecosystem. Safina founders will retain a minority stake in the company.
